Millions of workers throughout the world are being thrown out of work
due to the coronavirus pandemic, creating the conditions for an
unprecedented economic and social crisis.
The International Labor Organization (ILO) has warned that 25 million workers could join the ranks of the unemployed over the next several months. By comparison, the 2008-09 global financial crisis increased global unemployment by 22 million.
The spread of the COVID-19 disease has already exacted a terrible human toll, with nearly 250,000 cases and more than 10,000 fatalities across the globe. The economic and social crisis, which began with the shutdown of a significant portion of China’s economy and the disruption in the global supply chain, has now spread around the world as restaurants, retailers, airlines, public schools and factories close or sharply curtail operations.
While pouring trillions into the stock markets and preparing bailouts of the airline and other industries, the Trump administration in the US and capitalist governments around the world are doing little or nothing to protect workers from economic disaster.
Read more at: Massive social disaster looms as worldwide job losses from coronavirus pandemic expected to reach 25 million - World Socialist Web Site
The International Labor Organization (ILO) has warned that 25 million workers could join the ranks of the unemployed over the next several months. By comparison, the 2008-09 global financial crisis increased global unemployment by 22 million.
The spread of the COVID-19 disease has already exacted a terrible human toll, with nearly 250,000 cases and more than 10,000 fatalities across the globe. The economic and social crisis, which began with the shutdown of a significant portion of China’s economy and the disruption in the global supply chain, has now spread around the world as restaurants, retailers, airlines, public schools and factories close or sharply curtail operations.
While pouring trillions into the stock markets and preparing bailouts of the airline and other industries, the Trump administration in the US and capitalist governments around the world are doing little or nothing to protect workers from economic disaster.
Read more at: Massive social disaster looms as worldwide job losses from coronavirus pandemic expected to reach 25 million - World Socialist Web Site
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